the tax thing stopped years and years ago mate. if your car was made before a set day it dont have to pay road tax its not when your car reaches a certain age anymore.

classic insurance depends on the insurance company like you can have an XR3i on classic insurance aslong as your over 25 with no claim bonus and accident or convictions and the premium is a few hundred. if you insure it main stream your looking at a lot more.

"classic" insurance is looked on differently by differnent companys, the rules of classsic insurance are varying too,but basically,any car considered a classic by a lot of people (ie,S1 RSTs) will be able to be covered under classic insurance,u can only put a few thousand miles a year on them tho if they are classically insured,and tax exempth cars are pre 1970 something cars only. in ten years time itll still be pre 1970 something.an 80's car will not be tac exempt in 10 years

This will help about the Road Tax exemption of old vehicles :---------------------------------------------------------------

Exemptions from Vehicle Excise Duty (VED)

The law requires any mechanically propelled vehicle that is used or kept on a road in the UK to pay VED. Schedule 1 to the Vehicle Excise and Registration Act 1994 (as amended) prescribes rates of VED. There are exemptions from paying VED and these are contained in Schedule 2 to the 1994 Act. The main exemptions are:

Old Vehicles – vehicles constructed before 1st January 1973 that are not used for hire or reward or in connection with a trade or business.

Fire Engines/Fire Service Vehicles

Ambulances and Health Service Vehicles

Mine Rescue and Lifeboat Vehicles

Vehicles for Disabled People

Limited Use Vehicles - vehicles used for the purposes of agriculture, horticulture or forestry that are only used on public roads in passing between different areas of land occupied by the same person. The distance travelled on public roads between two such areas of land must not exceed 1.5 kilometres.

Tractors/Agricultural Engines

Mowing Machines

Steam Powered Vehicles

Electrically Propelled Vehicles

Snow Ploughs/Gritters

Trams*

Electrically Assisted Pedal Cycles*

Pedestrian Controlled Vehicles*

Even though the above vehicles are exempt from paying VED, they are still required, by law, to be licensed and registered on the DVLA vehicle register (except those annotated *). For further advice you should contact your DVLA Local Office.